Centrus advises on merger between Coastal and RHA Wales Group

Why does this transaction matter?

Optimising the treasury platform enables Beacon to deliver more for customers & residents, with £85m of new funding and increasing debt capacity for stock investment and the development of new homes.

What value did Centrus add?

• Sole financial advisor engaged to develop treasury strategy, construct combined business plan, lead on lender negotiations, provide assurance reporting to Board’s and project manage to completion deadline.
• Merger created an opportunity to renegotiate and restructure bank finance with significantly enhanced terms, reducing treasury risks while improving operational flexibility.
• Effective positioning of a strengthened credit risk profile enabled £85m of new funding to be arranged on highly attractive terms, bolstering liquidity to fund growth in the combined business plan.
• 91% of value at risk protected in existing debt facilities.
• Target financial covenant levels achieved with harmonised definitions, lowering covenant risk and increasing financial resilience by £30m p.a. on average over the next 5 years.
• Greater corporate freedoms around financial support and future merger consents negotiated, ensuring Beacon is ready for the future.

“The quality of the advice and support we have received during the merger was exceptional. At an operational level, the lead Centrus took on business planning and lender negotiation processes that underpinned developing and delivering our business case ensured timelines were met and outcomes maximised. At Board level, the assurance provided smoothed decision making and enhanced governance. The Centrus team is first rate; they have made my life easier, and our business stronger.”

Sian Evans, Interim Executive Director of Finance – Beacon

For more information, please contact Jonathan Spearing, Director, Housing, Education & Care.

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